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will suffice), should the Mortgagor so request of the Mortgagee
in writing.
I. Notwithstanding any provision to the contrary contained _
herein, .interest shall not be payable by the Mortgagee upon any.
soma deposited with/or held in trust by the Mortgagee pursuant
to any provision hereof.
J. Mortgago~C shall have the right to prepay the whole or
-any part-of the unpaid balance of the indebtedness hereunder at
any time without penalty. However, it is agreed between the
Mortgagor and Mortgagee that any prepayments shall be first
applied_to the payment of the First Note and the First Mortgage,
then applied to the payment of-the Second Note and the Second -
Mortgage. Any prepayment shall be applied to the interest accrued
to the date of prepayment and then to the. principal indebtedness.
Any prepayment being applied to the principal shall be directly
paid for .principal reduction of the First Mortgage and_First
Note, and then: the Second Mortgage and Second Note, and any amounts
over and-above.the entire principal indebtednesses of the First
Note and the Second Note shall be paid over to the Mortgagee
hereunder.
R. Mortgagor hereby agrees that if any major modifications
are to be made to the subject property, then said modifications
shall tequire express written permission from .the Mortgagee, and
if said modifications are. made without the express written permission
from the Mortgagee then said Mortgagor shall be considered in
immediate default under this Mortgage and Mortgagee may seek
immediate foreclosure without notice to said Mortgagor.
L. Mortgagor shall be responsible for obtaining insurance
on the property for the highest insurable value and said Mortgagor
- agrees to provide the insurance company with the names and the
interests. of this Mortgagee as well as the holders of the First
Mortgage and the Second Mortgage.
.ENTERED INTO aad~agreed to by the undersigned this 13th
day of September, 1979.
MORTGAGOR: MORTGAGEE:
i Syt~~.
TIMOTH3f --F UIR - _ _ _ N F. _ PARSON - - _ _ • _ _
X19 SEP 18 AN ~
CLERfI CIRCINT C~~~~ _
AI~C8110 VERIFIED..
45931'7
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